US Abandons Iran Deal Revival, Sending Oil Prices Soaring
Brent crude prices surged by more than $2 a barrel on Thursday after a Wall Street Journal report said US President Donald Trump is not interested in reviving the June agreement with Iran.
The report, citing people familiar with the matter, stated that the Trump administration has repeatedly told mediators it has no interest in reviving the June deal, complicating diplomatic efforts to restart talks between the two sides.
Earlier on Thursday, Washington confirmed it was not in talks with Iran despite diplomatic efforts by other countries to re-engage the two sides.
Brent crude futures rose $2.18, or 2.5%, to $90.02 a barrel at 2:20 p.m. EDT (1820 GMT), while U.S. West Texas Intermediate crude futures gained $1.61, or 1.9%, to $83.84.
The White House said no negotiations are happening between the US and Iran, but all options remain on the table.